Myomo Q3 record product revenue $5.0M, up 27% YoY; net loss narrows to $2.0M

MYOMO, INC.

2023-Q3 EPS reported -$0.21 revenue$14,484,775

Total revenue $5.1M (+28% YoY); product revenue $5.0M (+27%) on 119 units (+37%).
Net loss $2.0M ($0.06/share) vs $2.8M loss ($0.40/share) in Q3 2022; adjusted EBITDA ($1.7M).
Received 156 MyoPro orders/authorizations (+20%); pipeline hits 1,046 candidates (+28%).
CMS reclassifies MyoPro as brace effective Jan 1, 2024; proposed fee rates $31,745 and $62,457.
First Medicare Part B rental payments received from all four DME MACs; six claims filed.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

MYOMO, INC. reported the three and nine months ended September 30, 2023 results: revenue Total revenue was $5.1 million, net income Net loss for the third quarter of 2023 was $2.0 million, or $0.06 per share, EPS $0.06 per share.

Period: the three and nine months ended September 30, 2023
Revenue: Total revenue was $5.1 million
Net income: Net loss for the third quarter of 2023 was $2.0 million, or $0.06 per share
EPS: $0.06 per share
Result: reported results

Exact text from the filing

--- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Myomo Reports Third Quarter 2023 Financial Results Featuring Record Product Revenue and Authorizations Q3 total revenue of $5.1 million, up 28% over the prior year 156 MyoPro orders and insurance authorizations received, including the first payments for five Medicare Part B patients Conference call begins at 4:30

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Source: SEC EDGAR

accession 0000950170-23-060269

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